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Income Taxes (Tables) | 12 Months Ended
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Dec. 31, 2016
Income Tax Disclosure [Abstract] |
Deferred Tax Assets and Deferred Tax Liabilities | The deferred tax assets and deferred tax liabilities and related valuation allowance were comprised of the following:
|  | December 31, |
|  | 2016 |  |  | 2015 |
Deferred tax assets: |  |  |  |  |  |  |  |
Derivative financial instruments |  | $ | — |  |  | $ | 267 |
Net operating losses |  |  | 13,643 |  |  |  | 5,525 |
Research and development credits |  |  | 23,012 |  |  |  | 21,494 |
Depreciation |  |  | 5,457 |  |  |  | 3,886 |
Valuation reserves and accrued liabilities |  |  | 9,667 |  |  |  | 5,553 |
Foreign tax credit |  |  | 6,926 |  |  |  | 1,654 |
Stock compensation |  |  | 4,508 |  |  |  | 3,129 |
Inventory |  |  | 1,571 |  |  |  | 1,622 |
Patents |  |  | 218 |  |  |  | 156 |
Defined benefit obligation |  |  | 2,306 |  |  |  | 2,011 |
Other credits |  |  | 639 |  |  |  | 639 |
Other |  |  | 116 |  |  |  | 10 |
|  |  | 68,063 |  |  |  | 45,946 |
Valuation allowance |  |  | (19,304 | ) |  |  | (13,418 | )
Deferred tax liabilities: |  |  |  |  |  |  |  |
Intangible assets |  |  | (8,442 | ) |  |  | (10,161 | )
Unrealized foreign currency exchange gains |  |  | (285 | ) |  |  | (3,797 | )
Undistributed profits of subsidiary |  |  | (12,002 | ) |  |  | (3,254 | )
Property and equipment |  |  | (470 | ) |  |  | (696 | )
Other |  |  | (319 | ) |  |  | (342 | )
|  |  | (21,518 | ) |  |  | (18,250 | )
Net deferred tax asset |  | $ | 27,241 |  |  | $ | 14,278 |
Reconciliations Between Statutory Federal Income Tax Rate and Effective Rate | Reconciliations between the statutory Federal income tax rate of 34% and the effective rate of income tax expense for each of the three years in the period ended December 31, 2016 are as follows:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Statutory Federal income tax rate |  |  | 34.0 | % |  |  | 34.0 | % |  |  | 34.0 | %
Increase (Decrease) resulting from: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Taxes on foreign income, net of taxes paid credit |  |  | 1.3 | % |  |  | 1.0 | % |  |  | 0.3 | %
Change in valuation allowance |  |  | 5.3 | % |  |  | (1.9 | %) |  |  | (0.8 | %)
Foreign, state and local tax, net of Federal benefit |  |  | 1.1 | % |  |  | 1.6 | % |  |  | 1.9 | %
Nondeductible expenses |  |  | 2.4 | % |  |  | 1.8 | % |  |  | 1.8 | %
Stock option compensation |  |  | — |  |  |  | (0.1 | %) |  |  | (0.1 | %)
Research and development credits |  |  | (0.7 | %) |  |  | (0.9 | %) |  |  | (0.5 | %)
Effect of different tax rates of foreign jurisdictions |  |  | (15.0 | %) |  |  | (12.1 | %) |  |  | (10.0 | %)
Undistributed profits of subsidiaries |  |  | 7.9 | % |  |  | 2.4 | % |  |  | — |
Other tax exempt income |  |  | — |  |  |  | (0.1 | %) |  |  | (0.9 | %)
Tax effects of intercompany transfers |  |  | (5.3 | %) |  |  | — |  |  |  | — |
Other |  |  | (0.3 | %) |  |  | 0.3 | % |  |  | (0.1 | %)
Effective rate |  |  | 30.7 | % |  |  | 26.0 | % |  |  | 25.6 | %
Net Operating Loss Carryforwards | The Company has Net Operating Loss (“NOL”) carryforwards as follows:
Jurisdiction |  | Amount as of December 31, 2016 |  |  | Years of Expiration |
U.S. Federal and state income tax |  | $ | 25,364 |  |  |  | 2018- 2035 |
Foreign |  | $ | 9,879 |  |  |  | 2018-2037 |
Foreign |  | $ | 47,707 |  |  |  | Indefinite |
Earnings Before Income Taxes | The earnings before income taxes and our tax provision are comprised of the following:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Income before income taxes: |  |  |  |  |  |  |  |  |  |  |  |
Domestic |  | $ | 12,981 |  |  | $ | 25,508 |  |  | $ | 11,170 |
Foreign |  |  | 97,582 |  |  |  | 103,430 |  |  |  | 83,051 |
Total income before income taxes |  | $ | 110,563 |  |  | $ | 128,938 |  |  | $ | 94,221 |
Provision for Income Taxes |
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  |  | 2014 |
Current income tax expense: |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | 9,215 |  |  | $ | 8,428 |  |  | $ | 4,005 |
State and local |  |  | 749 |  |  |  | 606 |  |  |  | (15 | )
Foreign |  |  | 32,844 |  |  |  | 24,622 |  |  |  | 24,737 |
Total current income tax expense |  | $ | 42,808 |  |  | $ | 33,656 |  |  | $ | 28,727 |
Deferred income tax expense (benefit): |  |  |  |  |  |  |  |  |  |  |  |
Federal |  | $ | (10,597 | ) |  | $ | (3,051 | ) |  | $ | (576 | )
State and local |  |  | (742 | ) |  |  | (183 | ) |  |  | 9 |
Foreign |  |  | 2,496 |  |  |  | 3,123 |  |  |  | (4,058 | )
Total deferred income tax expense |  | $ | (8,843 | ) |  | $ | (111 | ) |  | $ | (4,625 | )
Total tax expense |  | $ | 33,965 |  |  | $ | 33,545 |  |  | $ | 24,102 |
Reconciliation of Unrecognized Tax Benefits | The reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:
|  | Year Ended December 31, |
|  | 2016 |  |  | 2015 |  | 2014 |
Balance at beginning of year |  | $ | 4,443 |  |  | $ | 4,651 |  | $ | 2,241 |
Additions based on tax position related to current year |  |  | 80 |  |  |  | — |  |  | 43 |
Additions based on tax positions related to prior year |  |  | 366 |  |  |  | 262 |  |  | 2,991 |
Reductions from settlements and statute of limitation expiration |  |  | (299 | ) |  |  | (19 | ) |  | (432 | )
Effect of foreign currency translation |  |  | (104 | ) |  |  | (451 | ) |  | (192 | )
Balance at end of year |  | $ | 4,486 |  |  | $ | 4,443 |  | $ | 4,651 |

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